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<br /> DEED OF TRUST
<br /> AND CONSTRUCTION SECURITY AGREEMENT
<br /> THIS DEED OF TRUST, Is made as ol the �� day o( a�r;1 . _1998 , by and among the Trusto �
<br /> Starnetka Nnmac� Tnr_ � RM [�7act L�th� (SranA Tel anA� NPhraaka (hefe�(1 'BOITOWe�"�
<br /> lheTruste2, A,-,.t,o,- ('nn.�nroti�e ('.ruflit TTninn 7� 71 (�y�ChQx �LlZd� �C�'30r� �1TE (herein �TILS�B@�����
<br /> and the Beneliclary, _�-shar Cnn=arativa Crar�it TTninn� �191 Arrhar Rnarl} ArrharF NF (herein °
<br /> 'Lender').
<br /> FOR VALUABLE CONSIDERATION, Including the Indebtedness Identified herein and the lrust hereln created, lhe receipt ol wh(ch Is
<br /> hereby acknowledged, Borrower hereby IRevocebly grants, trans(ers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, lor
<br /> the benefit and security of Lender, under and subject to ihe terms and condilions hereinalter set lorth, ihe real propeny, described as
<br /> ' toilows:
<br /> Lot Six (6) , Rainbow Lake Third Subdivision, in the City of Grand Island,
<br /> Hall County, Nebraska.
<br /> IT IS UNDERSTOOD BY BORROWER AND LENDER THAT THIS INSTRUMENT, WHICH IS SECURED BY THE ABOVE REFEHENCED
<br /> PROPERTY, IS A CONSTRUCTION SECURITY AGREEMENT AND THAT IT DOES OR WILL SECURE AN OBLIGATION WHICH THE
<br /> BORROWER HAS OR WILL INCUR FOR THE PURPOSE OF MAKING AN IMPROVEMENT OR IMPROVEMENTS ON PROPERTY
<br /> HEREINOEFORE DESCRIBED. .
<br /> Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, ric�hts, privileges and appurtenances localed
<br /> thereon or in anywise perlaining thereto, and lhe renls, issues and profits, reversions and remainders thereol; (ncluding, but not Iimlled lo,
<br /> heating and cooling equipment and such personal propehy lhat is attached to the (mprovemenis so as to conslitute a fixlure; all o( wh(ch,
<br /> inciuding replacements and additions thereto, is hereby declared to be a parl of the real estate secured by the lien of th(s Deed o(Trusl and
<br /> all of the lorego(ng being re(erred lo herein as lhe 'Properly'. � ' °
<br /> This Deed ol Trust shail secure (a) ihe payment ot the principal sum and �Interests evidenced by Borrower's note dated
<br /> April 22. 1998 , having a maturity date of Januarv l0a 1999._ � . in the original principal amount o(
<br /> $ 150,000.00 and any and all modiflcaUons, extensions and renewals lhereol or therelo (herefn called 'Note); (b) lhe paymenl o(
<br /> olher sums advanced by Lender lo protect lhe security ol thls Deed ol Trust, with interest thereon as provided I� lhe Note; and (c) the
<br /> perlormance o(all covenants and agreemenl to Borrower set (orth herein.
<br /> DoROwer, to protecl lhe security of this Deed o(Trust, covenants and agrees wilh Lender as foilows:
<br /> '�'�, •^ ''•� - 1. Payment of Principal and Intorest. Borrower shail promplly pay when due the principal ot and (nterest on, and any tees
<br /> • or charpes provided In, the Note or In thls Deed ol Trusl.
<br /> � 2. Title. Borrower is the owner oi the Property, has the right and aulhority_to convey lhe Property, and waRants thal the lien
<br /> created hereby Is a first and pdor Ilen on ihe Property, except as may othervvise be sel forlh herein, and the execution and delivery oi this
<br /> Deed ol 7rusl does nol violale any contracl or other obligation to which Dorrower is subJect.
<br /> � � 3. Taxes, Assessmc3nts. To pay when due all taxes, special assessments and all olher charges against lhe Property and, upon
<br /> wrillen demand by lender, lo pay lo Lende� such amount as may be su(licienl to enabie lhe Lender lo pay such laxes, assessments or other
<br /> charges a� they become due.
<br /> 4. Insurance. To keep lhe Property fnsured egainst damage by fire, hazards (ncluded within the term "exlended coverage', and
<br /> such olher hazards as Lender may require, In amounts and wilh companies acceptable lo the Lender, and wilh loss payable to ihe Lender.
<br /> In case ol loss under such policies, lhe Lender Is aulhorized to adjust, collecl and compromise, ali claims thereunder and shall have lhe
<br /> • oplio� oi applying all or parl o( the (nsurance proceeds (i) to any indebtedness secured hereby and In such order as Lender may determine,
<br /> , . (ii) to the F3orrower to be used for lhe repair of restoraUon ot the Property or (iii) (or any olher purpose or ob)ect satis(actory to Lender
<br /> without allecting tha Ilen ol this Deed of Trust lor the tull amount secured hereby beiore such paymenl ever took piace, My appllcation ol
<br /> ' proceeds to fndebledness shall not extend or postpone !he due dale of any payments under the Nole, or cure any delaull ihereunder or
<br /> hereunder.
<br /> F1136B.LMG (0�95) Payo 1 ot 4
<br />' I�':.' �! � , ` i 5 ,..� 1
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